Omaha daily bee., 1887-11-01
The SPECULATIVE MARKETS.
Wheat Opens a Trifle Lower Than
Saturdays Figures.
VERY LITTLE CHANGE IN CORN.
Oats Quiet and Weak For the Near
Futures-An Unsatisfactory Move
ment in PrOvisions-Cattl
Reach Low Water Mark.
CHICAGO PRODUCE MARKET.

CHICAGO, Oct. 3I.-ISpecial Telegram TO
the BEE. AS usual on Monday, the wheat
trading o-day was governed chiefly by the
figures of the visible supply statement The
estimates on Saturday had been for about
1,00O,0O0 bushels increase. but the indications
this morning were that these estimates were
much too low, and accordingly the opening
was at fractonally lower prices than on Sat
urday. Among the heavy sellers early were
two of the exporting houses, and it was sur
missed that much of the selling was Of long
wheat Moreover, cables. although quoting
wheat steady with unchanged prices, were
not considered favorable. From the opening
the decline continued to the extent Of about
14M3Gc, the lowest point being reached when
the New York statement of the visible was
reported to show an increase of l.Uo,WW
bushels. AT the same time a mistake in the
Chicago figures made it appear that the in
crease in the Chicago statement would be as
great if not greater. When these figures
were corrected. however, and the actual in
crease was shown to be ,543OOO bushels,
there was speedy recovery, which was
much assisted by the revised figures from
New York, making the increase in this state
ment but ,216, 600 bushels The rebound car
ried December wheat sc above opening
figures but transactions at the outside price
were extremely limited December wheat
opened at 731sc sold down to 1294W121sc, up
to 1314c, and closed at 73lsc. May opened at
79c, sold off to 7S5Sc, back to 19c, and closed
at 7s1Sc. After the first hour the trading was
light and chiefly local.
Corn opened at &c for the May delivery
and 1s0p4c for November and December
lower than Saturdays closing prices. but the
large shipments from Chicago had u stimu-
lating effect, those reported to-day beng
b52, 600 bushels and the prices advanced
14c for May, 1sM &c for December and sc
for November. From this on the governing
influence seemed to be, as in wheat, the
visible supply statement. AS figures came
n piece meal, the price advanced or declined
accordingly as "a small or large increase was
indicated, but the fluctuations were always
within extremely narrow limits and the close
was almost identical with the opening. The
actual increase was 35S 900 bushels. Novem-
ber corn opened at Al &c, sold at Al &C and 4lc
and closed at Al sc. December opened at
4ld4l sc, sold mt Al l4c and 4l4M4l1sc and
closed at Al Sc May opened at 45c and
ranged between 45c and 45l4c closing at 45c.
Oats were quiet and the feeling one of
weakness for cash and the near futures, to a
trifie better for the longer months.
In provisions the movement'was somewhat
unsatisfactory. 1t being the last day of the
month and of the summer packing season,
operators of all classes were slow to take
sides. Packers We're, perhaps, little more
inclined to SELL but the market was in no
condition to encourage free selling, and hence
offerings, like the demand, were only moder-
ate. Still the days prices averaged lower
than those OF Saturday, though January pork
and .'anuary and May lard closed unchanged,
while January short ribs were only 2l3c
lower October short ribs showed an ad-
vance at o'clock of Zoe, resting at $3.50.
For cash and October delivery, lard declined
25c, closing at $622l6. November and De-
cember lard receded 1l9c the last quotation
for November being $3.50 and for December,
S622l9. January, the leading speculative
month, sold at Sl23 3219N1l240 for pork, s. 81
for lard and 81. 25W6.:}0 for short ribs.
AFTERNOON BoARD-Wheat easier; Novem-
Der 7lskc; December 72Nc; January 1890;
May 7Ss4c Corn easier; November 4O1S(i
Oats easier; November 2511c bid; Decem
ber about 256sc; May 29SEc. Pork closed
steady. Lard was quiet and firm.